Legislative update: Senate passes Consolidated Appropriations Act (with revenue provisions)

H.R. 2617, the “Consolidated Appropriations Act”

H.R. 2617, the “Consolidated Appropriations Act”

The Senate today passed H.R. 2617, the “Consolidated Appropriations Act,” by a vote of 68-29.

As indicated in TaxNewsFlash, the bill includes tax provisions aimed at expanding and increasing retirement savings as well as a provision limiting the tax deduction for charitable contributions of conservation easements in certain situations.  It also includes a tax provision relating to health savings accounts and tele-health. The bill does not include measures to extend various expired and expiring tax preference provisions or to suspend scheduled tax changes provided in the legislation commonly called the “Tax Cuts and Jobs Act.”

Read JCX-21-22 (estimated revenue effects of H.R. 2617), as released by the Joint Committee on Taxation (JCT) today.

What’s next?

The House of Representatives is expected to vote on the bill as soon as tonight.





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